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Seismic Services News

02 Mar 2022

Shearwater Sells Seismic Vessel Quartet for Recycling

Polar Marquis - Credit: Shearwater GeoServices

Offshore seismic services company Shearwater GeoServices said Tuesday it was divesting the four seismic survey vessels Polar Marquis, Oceanic Challenger, SW Emerald, and SW Eagle for recycling as part of its fleet renewal strategy.The first two vessels, Polar Marquis and Ocean Challenger, have been delivered in Turkey for recycling in accordance with EU regulations and the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, Shearwater GeoServices said.SW Emerald - Credit: Shearwater GeoServicesThe further two vessels…

08 Jul 2021

SeaBird Exploration Signs LoI with 'Leading Operator' for Fulmar Explorer Source Vessel

Seismic services company SeaBird Exploration has signed a letter of intent for a source vessel contract with an unnamed "leading operator."The company did not say where the vessel would be deployed exactly apart from saying it would be in the Western Hemisphere.According to SeaBird, the operator has specifically requested the Fulmar Explorer vessel for the work program. The 80.35 meters long Fulmar Explorer, built in 2009, joined the SeaBird Exploration fleet in 2019. The vessel's previous name was BOA Galatea.The contract is expected to start in Q4 2021 and has an expected duration of about 4 months. "To this end, SeaBird Exploration delivers on its main growth targets for 2021…

25 Jun 2021

Seismic Firm Polarcus Set for Business Wind-down, Delisting from Oslo Exchange

Polarcus Limited, a seismic surveyor in liquidation, is set to be wound down and delisted from the Oslo Stock Exchange.As previously reported, in January this year, lenders took control of the company's vessels after a debt payment default, and decided to sell them and let go all the employees.On February 8, 2021, David Griffin and Andrew Morrison of FTI Cayman, and Lisa Rickelton of FTI London were appointed Joint Provisional Liquidators (JPL) of the struggling seismic services provider by an order of the Court. Liquidators were specifically authorized by the Court to take all necessary steps to develop and propose a restructuring of the company’s financial indebtedness with a view to making a compromise or arrangement with the company’s creditors.Since their appointment…

10 Mar 2021

Equinor Awards Long-term Frame Deals to Seismic Players PGS and Shearwater

The Ramford Vanguard seismic vessel. (Photo: Ole Jørgen Bratland)

Offshore seismic survey contractors PGS and Shearwater GeoServices have been awarded framework agreements with Equinor for 4D towed streamer seismic acquisition on the Norwegian continental shelf (NCS) in what Equinor said was a new way of working with seismic contractors.The agreements have a total estimated value of around NOK 700 million (~USD 82,7 million).“This is a new way of working with seismic suppliers. We are moving away from annual tenders towards a more long-term collaboration model.

04 Mar 2021

Solstad Offshore CSVs Net Offshore Wind, Seismic Survey Contracts

Credit: Solstad

Norwegian offshore vessel provider Solstad Offshore said Thursday it had won new contracts for two of its subsea construction vessels (CSV), the Normand Fortress and the Normand Mermaid, in offshore wind and seismic sectors, respectively.The CSV Normand Fortress has secured a contract with the UK-based contractor Manor Renewable Energy for operation on a UK offshore wind farm. The contract is scheduled to start in October 2021, in continuation of the former announced contract with MHI Vestas…

03 Apr 2020

PGS Cold Stacks Two Seismic Vessels in Response to Low Oil Price

For illustration: Ramform Hyperion vessel - Image by PGS

Norwegian offshore seismic surveyor PGS has said that the coronavirus pandemic and the disruption in the oil market present unprecedented challenges for the offshore services industry, including the marine seismic industry.PGS expects the low oil price will have a material adverse impact on demand for seismic services and activity levels.Brent crude futures fell 3.2%, or 97 cents, to $28.97 per barrel as of 0636 GMT, after having risen 21% on Thursday.While oil companies have recently canceled several seismic survey contracts…

30 Jan 2020

Polarcus Seismic Vessel Refit Completed

(Photo: Navalrocha)

Portugal’s Navalrocha shipyard said it has completed a multimillion-euro repair and refit project for Dubai-based marine geophysical company Polarcus.The drydock project which completed in January 2020 involved a broad package of work to the ultra-modern 14 streamer 3D/4D seismic vessel – Polarcus Naila.The vessel is environmentally advanced with diesel-electric propulsion, high specification catalytic converters, a double hull and advanced bilge water cleaning system.“The Polarcus Naila visited Navalrocha shipyard for a total of 33-days running through the Christmas period…

22 Jan 2020

PGS Readies Offshore Sabah Data

Norwegian seismic services provider Petroleum Geo-Services (PGS) said that key areas for the 2020 Malaysia Licensing Round are covered by the PGS Sabah MC3D program.Data is available to evaluate the petroleum potential of the highly prospective offshore Sabah province, said a press note from the geophysical company.Over 47 000 sq. km high-resolution 3D data is available for Sabah, covering new opportunities near established plays in this exciting hydrocarbon province.Block SB-2T on the 2020 bid round is almost entirely covered by Sabah MC3D. SB-2T lies in the proven fold and thrust belt and is surrounded by producing oil and gas fields.

18 Nov 2019

SAExploration Wins $130Mln of New Projects

Houston-based  global seismic services company SAExploration announced a combined $130 million of new projects in Alaska, Canada and the Middle East.According to the geophysical services provider the largest contract is valued at approximately $112 million for onshore data acquisition services to be performed on the North Slope of Alaska.The data acquisition services will be conducted over the next three winter seasons, beginning in Q1 2020.In association with this multi-year project award, SAE has entered into a separate agreement with Geospace Technologies Corporation to purchase 30,000 new state-of-the-art GCL recording channels.The new Geospace channels will primarily be utilized during the aforementioned multi-year contract in Alaska…

21 Oct 2019

PGS Releases 3D GeoStreamer Survey Data

Norwegian seismic services provider Petroleum Geo-Services (PGS) said that beam migrated data is now available for viewing on its latest 3D GeoStreamer seismic survey over Angola blocks for the 2021 bid round.Modern imaging will unlock links between onshore and offshore presalt and postsalt plays.“Our initial coverage of shallow blocks six to eight will allow interested E&P companies a head start on de-risking prospectivity of the area ahead of bid submissions in 2021”, says Christine Roche, New Ventures Manager for PGS in Angola.Commercial, strategic and technical benefits are available to early participants in the survey. Preferential…

18 Nov 2018

PGS Offers Seismic Vessel to Japan

Norwegian seismic services provider Petroleum Geo-Services (PGS) has offered to sell the Ramform Sterling vessel to the Japan Oil, Gas and Metals National Corporation (JOGMEC).The seismic services that help oil companies to find oil and gas reserves offshore worldwide said in a press release that it had been informed that JOGMEC, an incorporated administrative agency of Ministry of Economy Trade and Industry, is the preferred tenderer and that negotiations would be initiated with the aim of concluding necessary contracts."PGS has now been informed that the Company is the preferred tenderer, and negotiations will be initiated with the aim of concluding necessary contracts. A final award to PGS will only take place if and when all contracts have been concluded.

31 Oct 2018

Magseis to Acquire Fairfield Seismic Technologies

Norwegian ocean-bottom seismic specialist Magseis entered into a $233 million deal to acquire the Seismic Technologies business from Fairfield Geotechnologies."Magseis will acquire the Seismic Technologies business from Fairfield comprising data acquisition, nodal and system sale & rental activities, including all shares in Fairfield's wholly owned U.K. subsidiary WGP Group," said a press release from the company.The name of the new business will be Magseis Fairfield. Fairfield Geotechnologies will remain privately held by the Sugahara family through Fairfield-Maxwell and focus its efforts on data licensing and data processing, as well as imaging…

24 Jun 2018

SeaBird Exploration Appoints Hans Petter Klohs as CEO

SeaBird Exploration, a global provider of high end 2D, source and shallow water 2D/3D seismic services and associated products to the oil and gas industry, appointed Hans Petter Klohs as new CEO of the Company. The Board of Directors of the Company announced that The appointment takes effect as of 24 June 2018. Klohs has extensive senior executive management experience from Norwegian publicly listed entities in both oil service and oil & gas. Previous senior positions include serving as CFO and later as CEO in GC Rieber Shipping ASA for over 10 years, serving as CEO in Arrow Seismic ASA and Armada Seismic ASA, and acting as CFO in Rocksource ASA. Klohs intends to resign from his position as board member of the Company as a consequence of the appointment.

19 Jul 2018

PGS Below Q2 Expectations but Outlook Improves

(Photo: PGS)

Shares of seismic services company PGS, which surveys the seabed for oil and gas deposits, dropped on Thursday on lower-than expected second-quarter results but its CEO said the market outlook was improving.PGS's April-June core operating earnings (EBITDA) rose to $136.0 million, below the $144 million expected by analysts in a Reuters poll, but up from $112.5 million in same quarter last year.Its shares traded three percent down by 0911 GMT, after dropping eight percent in early trade."We see a clear sign of improvement, it's a lot more tender activity, and we have realised higher contract pr

19 Nov 2010

Polarcus to Build Seismic Vessels at Ulstein

Polarcus, a provider of marine geophysical services, is building two seismic vessels of the new generation type SX134 at the Ulstein Verft shipyard. ULSTEIN has designed and built a number of state-of-the-art seismic vessels the past few years, and the contracts attest to the company's leading role in designing and building seismic ships. Polarcus is a shipowner committed to innovation and the environment, and is currently building up a fleet of the most modern and advanced seismic vessels in the world.

15 Feb 2017

Wärtsilä, PGS ink Service Deal

Wärtsilä and PGS Geophysical AS have signed a service agreement that makes Wärtsilä the preferred service supplier for engines and other Wärtsilä equipment. According to the agreement, Wärtsilä will take care of the maintenance of engines and propulsion systems on board PGS's fleet of 8 seismic vessels, securing maximum uptime as well as safe and economic operations. PGS's seismic vessels are used for mapping and analysing the subsurface beneath the ocean floor for oil and gas exploration around the world. The 3-year-agreement was signed in December 2016 and it includes an option for two extra years. In the first phase of the contract Wärtsilä will optimise the operations and maintenance of the Wärtsilä engines and propulsion systems installed on board PGS's vessels.

20 Dec 2001

BP Awards Caspian Geophysical Contract

Caspian Geophysical, the joint venture between WesternGeco and the State Oil Company of Azerbaijan Republic, announced that BP has awarded Caspian Geophysical a marine seismic services contract in the Azerbaijan sector of the Caspian Sea. Under the contract, Caspian Geophysical will supply a variety of conventional towed streamer and 3D, four-component (4C), marine acquisition and processing services for future seismic projects within any Production Sharing Agreement areas operated by BP. Caspian Geophysical will be the first contractor to mobilize ocean-bottom cable equipment designed for large-scale 4C seismic surveys within the Caspian region. The 4C surveys will provide additional subsurface information around gas-invaded sediments near mud volcanoes prior to field development.

13 Aug 2004

Rigdon Marine Signs Long-Term Contract

Larry Rigdon, President and CEO of Rigdon Marine, announced the signing of a long-term contract to provide offshore vessel services in the Gulf of Mexico to Terra Seismic Services, a Norwegian oil and gas seismic company. Terra Seismic Services is the first seismic services company to deploy a unique Four Component (4C) Ocean Bottom Cable (OBC) data acquisition system for the offshore environment. The system also offers improved and automated in-sea systems handling techniques. These new systems allow Terra Seismic Services to provide oil and gas companies enhanced state-of-the-art seismic data more cost effectively. Terra Seismic Services will employ the ground breaking “VectorSeis Ocean” recording and communication technology system as part of its advanced data acquisition methods.

27 Jul 2015

Seabed Geosolutions Bags Two Contracts

Seabed Geosolutions will soon mobilise for the variation order that was signed today by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey. The survey is over the Ghasha-Butini field, will take around 12 months and has a value of around USD 125 million. The recent successful completion of the Hail-Shuweihat survey has promoted this variation order, confirming ADNOC’s confidence in Seabed Geosolutions’ ability to operate safely and efficiently. In addition, Seabed Geosolutions has mobilised for an ocean bottom cable survey in Asia Pacific with a value of approximately USD 55 million. This survey is expected to be finished in the fourth quarter of 2015.

16 Jul 2007

SeaBird Signs with CapRock

SeaBird Exploration, a provider of seismic services, selected CapRock's new maritime service, SeaAccess Communications, as its satellite solution for three of its seismic vessels. The solution is designed to increase the overall efficiency of fleet operations and to enhance crew morale. The vessels will be provided with IP-based communication services such as phone and fax services, secure access to the corporate network and Internet and real-time reporting capabilities. Network monitoring, maintenance and access to CapRock's 24/7 help desk are also included in the managed solution. SeaBird will leverage the always-on connection to enable ocean bottom and shallow water seismic data to be shared easily between the vessels and technical experts located onshore.

07 Nov 2012

China Offshore 3D Seismic Survey a First

Seismic Survey Ship Viking ll: Photo courtesy Eidesvik

CGGVeritas has conducted first BroadSeis Surveys offshore Shenzen in the South China Sea. The deepwater surveys of two areas offshore Shenzhen in the east of the South China Sea were awarded to CGGVeritas by Chinese seismic services company, COSL (China Oilfield Services Limited), on behalf of its parent company, the Chinese national oil company, CNOOC. Data processing is already underway in the CGGVeritas Singapore center and is expected to be delivered by the end of 2012. The…

14 Nov 2012

Dolphin Marine's Latest Financial Results Better Than Expected

· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway. Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  â€¨seismic services. "From day one, Dolphin has emphasised the importance  â€¨of building a strong internal geophysical and Multi- 
Client business competence. This strategy works. Today our Multi-Client seismic model is being  â€¨recognised by an increasing number new global clients  â€¨and governmental authorities.

17 Dec 2012

North Sea Seismic Survey Contracts for Dolphin

Dolphin's 'Polar Duke': Photo credit Dolphin Group

Dolphin Group ASA,  headquartered in Norway, awarded multiple North Sea 3D seismic contracts for 2013. Dolphin has been awarded several contracts for the upcoming North Sea season. The awards are for both 3D and 4D seismic services and will involve three of its 3D seismic vessels with a total duration in the range of 8-12 months. Dolphin sat they will revert with further contract details when they present their 2013 guidance on or about 8 January 2013. "These early awards with…